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Buru Energy (ASX:BRU) - Executive Chairman, Eric Streitberg (right) - The Market Herald
Executive Chairman, Eric Streitberg (right)
Source: Buru Energy [Twitter]
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  • Buru Energy (BRU) is on track to begin a major exploration drilling program at the Canning Basin in mid-June
  • Buru and joint venture partner Origin Energy (ORG) operate two major exploration wells in the Canning Basin, Kurrajong 1 and Rafael 1
  • Kurrajong 1 will be the first well to be drilled in this program with drill site preparations expected to be completed later in the week
  • It is expected to take two weeks for all the equipment to mobilise to site with spud targeted for June 15
  • Buru is steady on the market this morning with shares trading at 14.5 cents

Buru Energy (BRU) is on track to begin a major exploration drilling program at the Canning Basin in mid-June.

The Canning Basin is the largest sedimentary basin in Western Australia, covering an area of around 530,000 square kilometres.

It is one of the few remaining areas in Australia that is underexplored for petroleum.

Buru and joint venture partner Origin Energy (ORG) operate two major exploration wells in the Canning Basin, Kurrajong 1 and Rafael 1.

Kurrajong 1 will be the first well to be drilled in this program with drill site preparations expected to be completed later in the week.

The topsoil has been stripped and stacked, the site has been levelled and compacted, and the surface conductor has been installed.

It is expected to take two weeks for all the equipment to mobilise to site with spud targeted for June 15.

"Drilling preparations are well underway and on track for our target mid-June spud," Executive Chairman Eric Streitberg said.

"Site preparations have gone smoothly and without incident and we are very much looking forward to the spud of Kurrajong in just over four weeks," he added.

Buru is steady on the market this morning with shares trading at 14.5 cents at 10:21 am AEST.

BRU by the numbers
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